Bad habits of beginner traders.

fxoday

Sergeant
Messages
130
My worst habit was always to big lot size for account size, ends badly everytime.
Usually, this occurs because trader wants to make a huge profit with a small balance, they have less capital but tend to trade with high-risk taker, for trading this is the name of greedy, and not advisable actually to trade with greediness because almost experience will get wiped out the account
 

bigdolly

Sergeant Major
Messages
897
My worst habit was always to big lot size for account size, ends badly everytime.

Reduce leverage if you can't control the part with lots. Make it 1:50 or 1:30 and your ability to trade high lots will be automatically restricted. Cheers :)
 

CRPA9

Recruit
Messages
54
Usually, this occurs because trader wants to make a huge profit with a small balance, they have less capital but tend to trade with high-risk taker, for trading this is the name of greedy, and not advisable actually to trade with greediness because almost experience will get wiped out the account
100% Iv managed to stop this now and always risk less than 2% per trade
 

Petezaa

Recruit
Messages
54
No experience in the market, over leveraging, poor mind set, trading pairs such as Gold & GJ and getting screwed.
 

fxoday

Sergeant
Messages
130
100% Iv managed to stop this now and always risk less than 2% per trade
Sometimes we get a mistake then we can learn from them to overcome, risk management is a good way to maintain the account, trading is about risk and profit, needs to pay attention to both.
 

bigdolly

Sergeant Major
Messages
897
Sometimes we get a mistake then we can learn from them to overcome, risk management is a good way to maintain the account, trading is about risk and profit, needs to pay attention to both.
Which money management techniques do you use? I see a lot of talk about them but no specifics at all. Maybe you can give examples or refer to the source where it is described.
 

fxoday

Sergeant
Messages
130
Which money management techniques do you use? I see a lot of talk about them but no specifics at all. Maybe you can give examples or refer to the source where it is described.
I think you have long time experience in a trading journey, so you have own money management rules according your preferences, and each trader has own trading style, but the main concept is about risk per trade, lot size, leverage, strategy, etc and all reflected in our plan trading.
 

bigdolly

Sergeant Major
Messages
897
I think you have long time experience in a trading journey, so you have own money management rules according your preferences, and each trader has own trading style, but the main concept is about risk per trade, lot size, leverage, strategy, etc and all reflected in our plan trading.
Still not clear what you mean. Can you cite an example of something more advanced than risk per trade "rule"?
 
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